Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

In the following table, revenue is disaggregated by type of good or service, primary geographical market, and timing of recognition. The table also includes a reconciliation of the disaggregated revenue to total revenue.

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2024		2023		2024		2023
Type of Good or Service
Recurring (1)	$	213.1	$	202.7	$	613.7	$	639.1
Non-recurring (1)	240.7		200.9		634.7		580.7
Total	453.8		403.6		1,248.4		1,219.8
Geographical Region (2)
North America	261.9		238.9		731.7		737.6
Europe, Middle East and Africa	122.7		101.6		332.1		300.0
Asia Pacific	46.1		37.0		116.5		108.0
Central and South America	23.1		26.1		68.1		74.2
Total	453.8		403.6		1,248.4		1,219.8
Timing of Recognition
Point in Time	224.9		200.8		614.3		619.6
Over Time	228.9		202.8		634.1		600.2
Total	453.8		403.6		1,248.4		1,219.8

(1) Recurring revenue includes revenue from aftermarket parts and services, re-build services on customer owned equipment, operating leases of equipment, and subscription-based software applications. Non-recurring revenue includes new equipment and installation and the sale of software licenses.

(2) Geographical region represents the region in which the end customer resides.

Contract with Customer, Asset and Liability

Contract asset and liability balances for the period were as follows:

	Balances as of
(In millions)	September 30, 2024		December 31, 2023
Contract Assets	$	96.7	$	74.5
Contract Liabilities	146.9		156.5
	September 30, 2023		December 31, 2022
Contract Assets	69.3		65.1
Contract Liabilities	158.4		161.2